Fortune Brands Innovations (NYSE:FBIN) Now Covered by Analysts at Barclays

Barclays initiated coverage on shares of Fortune Brands Innovations (NYSE:FBIN – Get Rating) in a report issued on Wednesday morning, The Fly reports. The brokerage issued an overweight rating on the stock.

A number of other research firms also recently commented on FBIN. Robert W. Baird raised their price objective on shares of Fortune Brands Innovations from $59.82 to $64.00 in a report on Friday, December 23rd. Credit Suisse Group raised their price objective on shares of Fortune Brands Innovations from $47.00 to $48.00 and gave the stock a neutral rating in a report on Monday, December 19th. Zelman & Associates assumed coverage on shares of Fortune Brands Innovations in a report on Friday, December 16th. They set a hold rating for the company. Loop Capital raised shares of Fortune Brands Innovations from a hold rating to a buy rating in a report on Friday, December 16th. Finally, Royal Bank of Canada downgraded shares of Fortune Brands Innovations from an outperform rating to a sector perform rating and raised their price objective for the stock from $61.00 to $63.00 in a report on Friday, January 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $59.00.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $61.71 on Wednesday. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 5.29 and a beta of 1.51. Fortune Brands Innovations has a fifty-two week low of $49.51 and a fifty-two week high of $99.89. The company has a quick ratio of 0.74, a current ratio of 1.47 and a debt-to-equity ratio of 0.92.

Fortune Brands Innovations Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, February 24th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, February 23rd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 19.82%.

Fortune Brands Innovations Company Profile

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Fortune Brands Innovations, Inc manufactures and supplies home and security products and services. The company operates through the following segments: Cabinets, Plumbing, Outdoors & Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, as well as vanities, for the kitchen and bath.